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Author Topic: American Corporations Are Adding More Jobs Overseas Than They Are At Home
raybond
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Report: American Corporations Are Adding More Jobs Overseas Than They Are At Home

By Travis Waldron on Apr 27, 2012 at 9:45 am


With the nation’s unemployment rate still above eight percent, millions of Americans are looking for work, and the country’s biggest corporations are hiring. According to a new report from the Wall Street Journal, however, many of those corporations are adding jobs overseas at a faster pace than they are at home. Even worse, others are cutting their domestic workforces while adding jobs in other countries at a rapid pace:


Those companies, which include Wal-Mart Stores Inc., WMT +2.70% International Paper Co., Honeywell International Inc. and United Parcel Service Inc., boosted their employment at home by 3.1%, or 113,000 jobs, between 2009 and 2011, the same rate of increase as the nation’s other employers. But they also added more than 333,000 jobs in their far-flung—and faster-growing— foreign operations.

The companies included in the analysis were the largest of those that disclose their U.S. and non-U.S. employment in annual securities filings. All of them have at least 50,000 employees. Collectively, they employed roughly 6.4 million workers world-wide last year, up 7.7% from two years earlier. Over the same period, the total number of U.S. jobs increased 3.1%, according to the Labor Department.

Many of the companies are adding jobs in the U.S. but adding even more overseas — reversing a trend from a decade ago in which they were outsourcing American jobs to other countries. But some companies, like Wal-Mart, have boosted overseas employment while maintaining flat job growth in the U.S., and others, like UPS, have slashed jobs at home even while adding them in other countries:



A similar Wall Street Journal report last April found that America’s largest multinational corporations outsourced more than 2.4 million jobs over the last decade, even as they cut their overall workforces by 2.9 million.

President Obama has proposed a tax credit to encourage businesses to bring jobs from overseas back to the United States in order to relieve high unemployment and boost economic growth. Republicans and corporations, meanwhile, have blamed outsourcing on high taxes, even though corporations pay less in America than they would in most of the developed world.

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CashCowMoo
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US also passed Japan as having the highest corporate tax rate in the WORLD.

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It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

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glassman
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if you actaully read the tax rules? and the actual payments made? you will discover that our corprate tax rate is not 38% it is from 38% to as much as -as Negative 9%... true, there are co's that get moeny from the tax system for simply existing...

Boeing in 2010? 4plus billion in profits. they paif negative 3 million in taxers to teh Feds. you know what that maens? BTW? that was acutally less than they were paid by us taxpayers for the three previous years [Wink]

the tax rate is effed up, but it's not against business, it's against anybody who wants to START a business, and the existing businesses like that just fine.

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glassman
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cash aren't you figgering out yet that all you are repeating is just propaganda?

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Don't envy the happiness of those who live in a fool's paradise.

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raybond
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Reality Check: Effective U.S. Corporate Tax Rate Much Lower Than Most Other Developed Nations

By Pat Garofalo on Mar 30, 2012 at 5:45 pm


Republicans have been kvetching today about the fact that, as of Sunday, the U.S. will have the highest statutory corporate tax rate in the world following a scheduled cut in Japan’s corporate tax. “The United States is a world leader in countless ways. ‘World’s Highest Taxes’ is a title we should give up as soon as possible,” wrote Sen. John Barrasso (R-WY) in a Fox News op-ed.

“This isn’t an April Fool’s Day joke; as of April 1, the United States of America will have reached the inauspicious position of having the highest corporate tax rate in the developed world,” said Sen. Orrin Hatch (R-UT) in a statement “I want America to be number one in many things, but having the highest corporate tax rate is definitely not one of them.”

This is constant refrain from Republicans, who then blame the supposedly high U.S. corporate tax rate for discouraging job creation. But as we’ve noted time and time again, while the U.S. has a high statutory corporate tax rate (meaning the rate on paper), U.S. corporations actually pay incredibly low taxes due to the ever-proliferating loopholes, credits, and deductions in the tax code and the use of overseas tax havens.

U.S. corporate taxes that were actually paid (the effective rate) fell to a 40 year low of 12.1 percent in fiscal year 2011, despite corporate profits rebounding to their pre-Great Recession heights. The U.S. both taxes its corporations less and raises less in revenue from corporate taxes than its foreign competitors:



Politico’s Ben White also pointed out that Japan has a value added tax, so it isn’t actually true that the U.S. will have the highest corporate tax rate on Sunday. As billionaire investor Warren Buffett has said, “it is a myth” that U.S. corporate taxes are high. “Corporate taxes are not strangling American competitiveness,” Buffett added.

Of course, it is theoretically possible to lower the U.S. corporate income tax rate while simultaneously raising revenue to help reduce the federal deficit by closing loopholes and cracking down on tax havens. But Republicans have absolutely no interest in that.

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glassman
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fell to a 40 year low of 12.1 percent in fiscal year 2011

the real crime here is that nobody even talks ht esame language at each other. half of these guys are including state taxes and blaming the whole country- the other half are lying baout the true and actual taxe rates in the other countries:

Tax bills for 5 corporate giants
2 of 5
2009
Exxon Mobil: $15.1 billion
Exxon Mobil: $15.1 billion
U.S. federal: -$156 million
U.S. state and local: $110 million
International: $15.2 billion

Exxon paid the most taxes last year of any U.S. company, by far -- but not a cent went to the IRS for income taxes. That's because the oil giant does business in some of the mostly highly taxed countries in the world. Want to extract petroleum in Nigeria? Be prepared to fork over up to 85% of your profit in tax payments.


LOL.. everybody is just talking right past each other

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CashCowMoo
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quote:
Originally posted by glassman:
cash aren't you figgering out yet that all you are repeating is just propaganda?

You mean like what Ray posts from media matters?
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glassman
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quote:
Originally posted by CashCowMoo:
quote:
Originally posted by glassman:
cash aren't you figgering out yet that all you are repeating is just propaganda?

You mean like what Ray posts from media matters?
what's that got to do with it? you are part of the GOP problem. as Buckstalker and i tried to tell you over and over? YOU are the only one responsible for what you post and being the lesser of two evils is not an excuse.

i am not a lefty, and i know that i can only make a differnce by being honest, if the lefty's post garbage? peopl figgur that out to, you don't "combat" dishonesty with more dishonesty..

you think Romney can beat Obama? not with lies, and neither can Obama beat Romeny with lies.

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Don't envy the happiness of those who live in a fool's paradise.

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CashCowMoo
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quote:
Originally posted by glassman:
quote:
Originally posted by CashCowMoo:
quote:
Originally posted by glassman:
cash aren't you figgering out yet that all you are repeating is just propaganda?

You mean like what Ray posts from media matters?
what's that got to do with it? you are part of the GOP problem. as Buckstalker and i tried to tell you over and over? YOU are the only one responsible for what you post and being the lesser of two evils is not an excuse.

i am not a lefty, and i know that i can only make a differnce by being honest, if the lefty's post garbage? peopl figgur that out to, you don't "combat" dishonesty with more dishonesty..

you think Romney can beat Obama? not with lies, and neither can Obama beat Romeny with lies.

You guys take me too literally sometimes.
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glassman
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You guys take me too literally sometimes.

maybe we do. but if you actually beleive ray is posting propaganda then pick aprt the Facts he presents.

mediamatter is defintiely working an agenda, and i don't like th eend result of their agenda which whoould be govt as Hillary envisoins it. However, they are darn good at finding & using akchal facks to make thier case.

some of us want Freedom and we are not happy to see it being lost due to a lack of support by way of real factfinding, i see almost none coming form the "right"...

there's so much damn paranoia about Obama being a marxist, soicalist, Muslim, gun grabber etc... right? well he's none of those.

you know what Onbam has done wrong? he went for helath care reform and got US a crappy deal from Congress over it cuz he was willing to settle for ANYTHING that was a change in helath care...

i don't really disrespect him for that.

what i disrespect him for is the FACT that he allowed all the Wall St tycoons and big bankers to walk away form this crisis unscathed. literally. it was NOT him that bailed them out either, that was BUSH, what Obama did was to look them in the eyeafterwards and tell them they need to do better , instead of crushing them and making an example of them so that in the future, these types would be less likely to go tot he darkside so much.

Romney? he's not even going to do that much, he's going to help them do it all over again cash...
i dunno who will win this fall.. i think its 53% to Obam 47 to Romeny right now, but that is in my margin of error...

the real issue is that Wall st and America itself has lost it's way, Obama has had his hand out. if Obama loses this fall? it's just athat much sooner that he gets to collect the debt he is owed for NOT crushing the Wall St tycoons and Bankers he only scolded.. they will pay him huge fees to give speeches to the company and to lobby for them [Wink] he'll have is hundred million twice as fast as Clinton did

Wall St trades against it's own customers now... totally immoral and bad business. bad business always ends up hurting everyone involved

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Don't envy the happiness of those who live in a fool's paradise.

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glassman
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BTW? i said Obama didn't bail out the banks? it's true, he bailed out GM (who is back to number one) and he bailed out state and local govts which are now the main source bleeding jobs right now because the bailouts ended, and revenues didn't rebound yet...

Obma has not been a BAD president, he just went after the wrong problem IMO, and now we are basically stuck with the SAME exact scenario that led US in to the last collapse... all it needs is to get overheated for five years and we'll see it all over again...
we are at 13200 DJIA right now, that's almost all the wya back to our highest high, guess what? we were too high at this price before, and we are too high now... but we need a few things to happen to trigger a serious bear run... they WILL happen, it's just a question of wehn..

the wierd part is that the GOP and Romney actually needs it to be bad and get worse to get elected now don't they?

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Don't envy the happiness of those who live in a fool's paradise.

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